HMRC have published an updated version of Statement of Practice D12: Partnerships. Originally issued in January 1975 this update on the capital gains tax treatment of partnerships sets out points of general practice, including the concept of limited liability partnerships as enacted by
HMRC have published an updated version of Statement of Practice D12: Partnerships. Originally issued in January 1975 this update on the capital gains tax treatment of partnerships sets out points of general practice, including the concept of limited liability partnerships as enacted by the Limited liability Partnerships Act 2000. The recommendations in OTS’s final report in January this year concluded that SP D12 provides a reasonable result in most circumstances and should be left essentially as it is, but that some of the text should be rewritten to replace out-of-date language and to replace some content which was obsolete. The changes are for clarity and completeness and do not represent any change to HMRC's approach. See http://deloi.tt/1UVTCJ2.
HMRC have published an updated version of Statement of Practice D12: Partnerships. Originally issued in January 1975 this update on the capital gains tax treatment of partnerships sets out points of general practice, including the concept of limited liability partnerships as enacted by
HMRC have published an updated version of Statement of Practice D12: Partnerships. Originally issued in January 1975 this update on the capital gains tax treatment of partnerships sets out points of general practice, including the concept of limited liability partnerships as enacted by the Limited liability Partnerships Act 2000. The recommendations in OTS’s final report in January this year concluded that SP D12 provides a reasonable result in most circumstances and should be left essentially as it is, but that some of the text should be rewritten to replace out-of-date language and to replace some content which was obsolete. The changes are for clarity and completeness and do not represent any change to HMRC's approach. See http://deloi.tt/1UVTCJ2.
